MasTec Inc. (MTZ) Given Average Recommendation of “Buy” by Brokerages
MasTec Inc. (NYSE:MTZ) has been assigned a consensus rating of “Buy” from the thirteen research firms that are currently covering the company. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $32.30.
A number of equities analysts have weighed in on MTZ shares. FBR & Co reiterated a “buy” rating and issued a $37.00 price target on shares of MasTec in a research report on Monday, November 7th. Canaccord Genuity set a $33.00 target price on shares of MasTec and gave the stock a “buy” rating in a report on Thursday, September 22nd. Maxim Group boosted their target price on shares of MasTec from $26.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Citigroup Inc. boosted their target price on shares of MasTec from $26.00 to $30.00 and gave the stock a “neutral” rating in a report on Monday, August 8th. Finally, DA Davidson downgraded shares of MasTec from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $34.00 to $39.00 in a report on Wednesday, November 16th. They noted that the move was a valuation call.
MasTec (NYSE:MTZ) opened at 37.05 on Tuesday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 3368.18 and a beta of 1.22. MasTec has a 12-month low of $12.44 and a 12-month high of $38.05. The company’s 50 day moving average is $31.21 and its 200 day moving average is $27.17.
MasTec (NYSE:MTZ) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.12. The business earned $1.59 billion during the quarter, compared to analyst estimates of $1.50 billion. MasTec had a net margin of 0.02% and a return on equity of 10.76%. The company’s revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts forecast that MasTec will post $1.74 earnings per share for the current fiscal year.
TRADEMARK VIOLATION WARNING: “MasTec Inc. (MTZ) Given Average Recommendation of “Buy” by Brokerages” was posted by The Cerbat Gem and is the propert of of The Cerbat Gem. If you are accessing this story on another website, it was stolen and republished in violation of international trademark & copyright law. The legal version of this story can be read at https://www.thecerbatgem.com/2016/11/27/mastec-inc-mtz-given-average-recommendation-of-buy-by-brokerages.html.
Several large investors have recently made changes to their positions in MTZ. BlackRock Inc. increased its stake in shares of MasTec by 41.5% in the first quarter. BlackRock Inc. now owns 7,520 shares of the company’s stock valued at $153,000 after buying an additional 2,205 shares in the last quarter. BlackRock Group LTD increased its stake in shares of MasTec by 27.4% in the first quarter. BlackRock Group LTD now owns 41,648 shares of the company’s stock valued at $843,000 after buying an additional 8,954 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of MasTec by 25,322.9% in the first quarter. JPMorgan Chase & Co. now owns 131,182 shares of the company’s stock valued at $2,655,000 after buying an additional 130,666 shares in the last quarter. UBS Group AG increased its stake in shares of MasTec by 50.2% in the first quarter. UBS Group AG now owns 26,422 shares of the company’s stock valued at $534,000 after buying an additional 8,834 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of MasTec by 43.8% in the first quarter. Goldman Sachs Group Inc. now owns 222,941 shares of the company’s stock valued at $4,513,000 after buying an additional 67,958 shares in the last quarter. 73.27% of the stock is currently owned by institutional investors and hedge funds.
MasTec, Inc is an infrastructure construction company. The Company operates primarily across North America through a range of industries. Its primary activities include the engineering, building, installation, maintenance and upgrade of communications, energy and utility infrastructure, such as wireless, wireline or fiber and satellite communications; petroleum and natural gas pipeline infrastructure; electrical utility transmission and distribution; power generation, and industrial infrastructure.
Receive News & Stock Ratings for MasTec Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MasTec Inc. and related stocks with our FREE daily email newsletter.